Bulgaria Industry January 2020


Bulgaria: Contraction in industrial production eases at 2020 outset

March 10, 2020

Industrial production dropped 0.7% year-on-year in January, after falling a 1.3% in December. Meanwhile, average annual growth in industrial output logged 0.5%, down from 0.7% the month prior.

January’s softer decline reflected a heathy performance of the manufacturing industries and a milder contraction in utilities supply more than offsetting a sharp downturn in the mining and quarrying industries. In seasonally-adjusted terms, industrial output rebounded 1.6% month-on-month in January (December: -1.7% month-on-month seasonally-adjusted).

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.8% in 2020, which is up 0.2 percentage points from last month’s forecast. For 2021, panelists see industrial production growing 2.1%.

Author: Massimo Bassetti, Economist

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Bulgaria Industry Chart

Bulgaria Industry January 20 20

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: National Statistical Institute (NSI).

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